U.S. stocks opened little-changed on Tuesday, as investors remained cautious ahead of the two-day Federal Reserve policy meeting and a barrage of earnings reports. Shares of McDonald’s Corp slumped after the world’s largest fast-food restaurant chain missed earnings expectations. Lower oil prices continued to weigh on energy stocks. The S&P 500 index was flat at 2,168. The Dow Jones Industrial Average was off by 11 points, 0.1% to 18,481, while the Nasdaq Composite Index began the session unchanged at 5,096.
Despite encouraging rebounds in both job growth and markets in recent weeks, the Federal Reserve is expected to maintain its poker face this week, offering few, if any, clues as to whether it will raise interest rates in September, economists say.
A larger-than-expected lift in online sales is likewise expected to drive additional growth, with the NRF now calling for a 7 to 10 percent increase in digital revenue. That compares with its prior forecast for a 6 to 9 percent lift.
Next Trading Day's Important Events
- USDJPY: 104.64
- EURUSD: 1.0995
- S&P 500: 2,170.80
- NASDAQ : 5,114.80